On 12 January 2023, the Foreign Subsidies Regulation (FSR) entered into force. This new set of rules for addressing distortions caused by foreign subsidies will allow the European Union (EU) to remain open to trade and investment, while aiming at ensuring a level playing field for all companies operating in the Single Market. The FSR was proposed by the Commission on 5 May 2021. Following the ordinary legislative procedure, the final text of the Regulation was adopted on 10 November 2022 by the Parliament and on 28 November 2022 by the Council.
The regulation proposes three tools for the Commission to investigate financial contributions by a public authority in non-EU country. Companies will have to notify the Commission of mergers and acquisitions if one of the parties involved has an EU turnover of at least €500 million and there is a foreign financial contribution of at least €50 million. For tenders in public procurement procedures, the threshold for procurement is set at least €250 million.
Noting this, the European Chamber is honoured to have Mr Adrian Emch, Partner of Hogan Lovells, the Law Firm, as guest speaker to share his insights on FSR. He heads the firm’s Asian antitrust practice. Adrian is an EU-qualified lawyer, with several years of private practice in Brussels and a short stint at the European Commission’s DG Competition. For the last 15 years, Adrian has been based in Beijing. In addition to his law firm practice, Adrian has also taught full-semester courses on competition law, as well as on EU law and policy, at Peking University Law School
The meeting will take place from 10:00 to 11:25, 24 February. If you would like to join this meeting, please kindly register online or send your name and your company name to Ms Dafei Wu at dwu@europeanchamber.com.cn before 22 February and indicate you would like to join whether online or onsite in the European Chamber Beijing office. For reference, the speaker will join onsite. This meeting will be held in English.
Thank you for your attention. Should you have any question, please don’t hesitate to contact us. We will be happy to assist further.
Tentative Agenda
10:00-10:05
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Welcome Remarks
Ms Sara Marchetta, Vice Chair, Legal and Competition Working Group, European Chamber
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10:05-10:50
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Presentation Session
Mr Adrian Emch, Partner, Hogan Lovells
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10:50-11:20
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Q&A Session
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11:20-11:25
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Closing Remarks
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